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CIR vs.Cebu Holdings Inc.

COMMISSIONER OF INTERNAL REVENUE, PETITIONER, V. CEBU HOLDINGS, INC., RESPONDENT.

G.R. No. 189792 | 2018-06-20

D E C I S I O N
 
CARPIO, J.:
 
The Case
 
This petition for review[1] assails the 29 July 2009 Decision and the 9 October 2009 Resolution of the Court of Tax Appeals (CTA) En Banc in C.T.A. EB No. 478. The CTA En Banc affirmed the 10 November 2008 Decision and the 12 March 2009 Resolution of the CTA First Division which ordered the issuance of a tax credit certificate in the reduced amount of P2,083,878.07[2] representing the excess creditable taxes for taxable year 2002 in favor of respondent Cebu Holdings, Inc. (respondent).
 
The Facts
 
Respondent is a registered real estate developer. On...